Djamo Raises $17M to Expand Digital Banking Across Francophone Africa

Djamo Raises $17M to Expand Digital Banking Across Francophone Africa

Djamo, a Y Combinator-backed fintech startup, has made headlines once again with its latest $17 million equity raise — the largest ever for a startup in Ivory Coast. With over 1 million users and counting, Djamo is redefining how digital banking works in Francophone West Africa. Image:Google While many digital banks tend to gravitate toward Africa’s largest markets like Nigeria, Egypt, or South Africa, Djamo stands out by focusing on underserved French-speaking countries like Ivory Coast and Senegal. This unique strategy has not only helped them build a loyal user base but also secured strong investor confidence. Founded in 2020 by CEO Hassan Bourgi and CTO Régis Bamba, Djamo was created to address a critical gap: most adults in Francophone Africa don’t have access to traditional banks. High costs, outdated infrastructure, and financial institutions that cater only to the affluent have left most of the population dependent on mobile money platforms. While mobile money enables basic trans…